this post was submitted on 15 Feb 2024
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Too much US-specific legalese in this one for me to even properly parse. Without the title, I wouldn't even have guessed that this would be a sovereign citizen style post. I have no clue what a UCC-1, an AAA, NFCU, or a 1099 form is. I also have no clue how her car being repossessed leads to something being discharged as bad debt on her end. Thorougly lost here.
ucc-1 is apparently an "I am entitled to part of some property", I assume when it goes up for sale to settle debts, you're basically saying they owe you something.
AAA I'm guessing is their insurance company, NFCU could be Navy Federal Credit Union (basically probably their bank that held the loan for the car)
The 1099 is a tax for, but there's usually an extra set of letters after. For example, a 1099-MISC is how you'd declare side income like royalties or prize money. Im assuming this person files some kind of 1099 to show losses.
The interesting part to me is that (afaik) you're allowed to go to the auction and bid on your own car. And technically, if your car sold for more than you owe + repo fees, they have to give that money back to you (incredibly rare).
This is, in my experience as a dealership repossession titles clerk, extremely rare to the point of being non-existent. Might be because my corporation doesn't allow non-auto dealers to attend the auctions in which repos get sold.
It is also highly unlikely that a car sells for more than is owed + the fees. More often than not you're going to have a hefty chunk left to pay after the auction is done. I had a person surrender their vehicle voluntarily (which counts as a repossession type) and it was valued at $6000. She owed $14k on it. My guess is it's going to sell for 8k-ish, leaving her on the hook for the rest.
Disclaimer: I work for a large corporate dealership, this is solely my experience in my day to day job, YMMV.